GE Raises Dividend 10% for 29th Consecutive Annual Increase And Authorizes New $15 Billion Share Repurchase Program.

FAIRFIELD, Conn. -- The Board of Directors of GE today raised the Company's quarterly dividend 10% to $0.22 per outstanding share of its common stock and authorized the repurchase of up to $15 billion of its common stock over the next three years.

"GE has tremendous prospects for growth in earnings and cash flow," said GE Chairman and CEO Jeff Immelt.

"We have been executing a clear strategy to build a capital-efficient portfolio of faster-growth industrial businesses and higher-returning financial services businesses," Immelt said. "That work is now largely behind us, and we have the best set of GE businesses we've had in many years. We're confident that in 2005 we will return to solid double-digit earnings growth with expanding incremental returns on capital and increasing cash flow from operating activities. As a result we fully expect to have the flexibility to invest in technology and innovation while returning value to shareowners through a substantial dividend and a share repurchase program."

The dividend increase, from $0.20 per share, marks the 29th consecutive year in which GE has raised its dividend. GE has paid a dividend every year since 1899. The dividend is payable January 25, 2005, to shareowners of record on December 27, 2004. The ex-dividend date is December 23.

The new share repurchase program replaces a program first authorized in 1994. Since 1994, GE has returned more than $75 billion to shareowners through dividends and the repurchase of more than 1.1 billion shares.

GE (NYSE: GE) is a diversified technology, media and services company dedicated to creating products that make life better. GE operates in more than 100 countries and employs more than 300,000 people worldwide. For more information, visit the company's Web site at www.ge.com.

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